Last minute dollar buying by importers pulled the rupee from its 13-month high levels to 46.23/24, down by 10 paise, against the US currency, snapping winning steak of domestic unit the past few days.
Rupee had surged in initial trade on expectations of further capital inflows amid exporters offloading their dollar positions. However towards the end of trading, dollar gained strength on demand from importers.
In fairly active trade at the Inter-bank Foreign Exchange (Forex) market, the domestic currency opened firm at 45.90/91 a dollar and touched the day’s high of 45.75, the level not seen since September 24, 2008.
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Dealers said dollar continued to be weak against its rivals in the overseas market, prompting exporters and corporates to sell the US currency.